Irrevocable Trusts For Gift Tax Planning | Learn About Law

Описание: In this video we explain how irrevocable trusts are used for estate tax planning purposes and how irrevocable trusts work with respect to gift taxes.  We explain how estate and gift tax work both federally and in Illinois.  We answer the questions, what is a trust?, how do irrevocable trusts work?, are assets owned by an irrevocable trust subject to estate tax?, what are “Crummey Powers” for irrevocable trusts?, how are irrevocable trusts used to minimize estate tax?, and what are the advantages of irrevocable trusts for estate planning?

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O'Flaherty Law has convenient offices located in Downers Grove, Elmhurst, Naperville, Tinley Park, St. Charles, and Lake in the Hills, Illinois, serving DuPage County, Will County, Cook County, Lake County and McHenry County. Its attorneys focus on providing quality legal work, above-and-beyond customer service, and affordable rates in the following practice areas: divorce & family law; estate Planning, wills & trusts; probate & estate administration; litigation, civil law & dispute resolution; business representation & corporate law; guardianship, elder law & special needs law; residential & commercial real estate law; immigration; bankruptcy; and DUI law and traffic & criminal defense.

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